Marzetti (NASDAQ:MZTI) Sets New 52-Week Low – Time to Sell?

The Marzetti Company (NASDAQ:MZTI)’s share price hit a new 52-week low during trading on Wednesday. The company traded as low as $97.80 and last traded at $98.18, with a volume of 71045 shares traded. The stock had previously closed at $99.90.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MZTI. DA Davidson reduced their target price on shares of Marzetti from $168.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, August 26th. Stephens restated an “equal weight” rating and issued a $140.00 price objective on shares of Marzetti in a report on Wednesday, August 26th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marzetti in a research report on Monday, August 17th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $135.00.

Marzetti Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.56 and a quick ratio of 0.67. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 14.30 and a beta of 0.35. The stock has a 50-day moving average price of $108.24 and a 200 day moving average price of $116.72.

Marzetti (NASDAQ:MZTI) last released its quarterly earnings results on Tuesday, August 25th. The company reported $1.46 EPS for the quarter. The firm had revenue of $465.03 million during the quarter. Marzetti had a net margin of 9.93% and a return on equity of 18.22%.

Marzetti Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, September 8th. Marzetti’s dividend payout ratio is presently 57.39%.

Insider Buying and Selling at Marzetti

In related news, CEO Luis Viso sold 997 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $100.81, for a total transaction of $100,507.57. Following the transaction, the chief executive officer owned 1,047 shares of the company’s stock, valued at $105,548.07. This trade represents a 48.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 29.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Marzetti during the fourth quarter worth $33,000. Rockefeller Capital Management L.P. acquired a new position in Marzetti in the 4th quarter valued at $35,000. NewEdge Advisors LLC increased its stake in Marzetti by 237.5% in the 2nd quarter. NewEdge Advisors LLC now owns 216 shares of the company’s stock valued at $25,000 after buying an additional 152 shares during the period. IFP Advisors Inc raised its position in Marzetti by 796.3% during the 2nd quarter. IFP Advisors Inc now owns 242 shares of the company’s stock worth $28,000 after buying an additional 215 shares during the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in Marzetti during the 4th quarter worth $60,000. Institutional investors and hedge funds own 66.44% of the company’s stock.

Marzetti Company Profile

Marzetti is a food company known for producing and marketing salad dressings, dips, sauces, and other specialty food products. Its portfolio includes Marzetti dressings and dips, Simply Dressed refrigerated dressings, and a range of foodservice products supplied to restaurants, hospitality businesses, schools, and other institutional customers.

The company also markets complementary products such as croutons, frozen breads, fruit dips, and other bakery and frozen-food items through brands including New York Bakery and Sister Schubert’s.